System and method for rewards program for credit card issuer

Abstract

The exemplary embodiments of the present invention provide a system and method for administering a rewards program. The system includes a computer system in communication with a network. The computer system includes a creation module that creates a reward account upon issuing a credit card from a credit card issuer, a reward adjusting module that adjusts the reward account when the credit card is used in a transaction, and a reward module that grants at least one reward transaction for the credit card issuer. The method includes creating a reward account upon issuing a credit card from a credit card issuer, adjusting the reward account when the credit card is used in at least one transaction, and coordinating at least one rewards transaction for the credit card issuer.

1 . A method of administering a rewards program on a computing device, said method comprising:
 creating a reward account upon issuing a credit card from a credit card issuer;   adjusting the reward account when the credit card is used in at least one transaction;   coordinating at least one rewards transaction for the credit card issuer.   
     
     
         2 . The method of  claim 1 , further comprising granting a reward to a recipient. 
     
     
         3 . The method of  claim 2 , wherein the credit card issuer designates the recipient. 
     
     
         4 . The method of  claim 2 , wherein the recipient of the reward is a cardholder user of the credit card issued by the credit card issuer, and the reward is earned by making a purchase with another credit card issued by the credit card issuer to the cardholder user. 
     
     
         5 . The method of  claim 2 , wherein the reward is withdrawn by undoing a transaction that the reward was previously granted upon. 
     
     
         6 . The method of  claim 1 , wherein the credit card issuer receives a percentage of the payment for the rewards transaction. 
     
     
         7 . The method of  claim 1 , wherein the reward is a travel-based reward. 
     
     
         8 . The method of  claim 1 , wherein the credit card issuer determines a most beneficial payment method for the reward and provides payment for the reward using the most beneficial payment method. 
     
     
         9 . A system for administering a rewards program, comprising:
 a computer system in communication with a network, the computer system further comprising:
 a creation module that creates a reward account upon issuing a credit card from a credit card issuer; 
 a reward adjusting module that adjusts the reward account when the credit card is used in a transaction; 
 a reward module that grants at least one reward transaction for the credit card issuer. 
   
     
     
         10 . The system of  claim 9 , wherein the reward is granted to a recipient. 
     
     
         11 . The system of  claim 10 , wherein the credit card issuer designates the recipient. 
     
     
         12 . The system of  claim 10 , wherein the recipient of the reward is a cardholder user of the credit card issued by the credit card issuer, and the reward is earned by making a purchase with another credit card issued by the credit card issuer to the cardholder user. 
     
     
         13 . The system of  claim 10 , wherein the reward is withdrawn by undoing the transaction that the reward was previously granted upon. 
     
     
         14 . The system of  claim 9 , wherein the credit card issuer receives a percentage of the payment for the rewards transaction. 
     
     
         15 . The system of  claim 9 , wherein the reward is a travel-based reward. 
     
     
         16 . The system of  claim 9 , wherein the reward module further comprises a maximization award module that determines a most beneficial payment method for the reward and provides payment for the reward using the most beneficial payment method. 
     
     
         17 . A computer program product for administering a rewards program, the computer program product comprising:
 a storage medium readable by a processing circuit and storing instructions for execution by the processing circuit for performing a method comprising:
 creating a reward account upon issuing a credit card from a credit card issuer; 
 adjusting the reward account when the credit card is used in a transaction; 
 coordinating at least one rewards transaction for the credit card issuer. 
   
     
     
         18 . The computer program product of  claim 17 , wherein the credit card issuer designates a recipient receiving a reward. 
     
     
         19 . The computer program product of  claim 18 , wherein the reward is withdrawn by undoing the transaction that the reward was previously granted upon. 
     
     
         20 . The computer program product of  claim 18 , wherein the credit card issuer determines a most beneficial payment method for the reward and provides payment for the reward using the most beneficial payment method.